All you need to know before starting in the service industry

A company is really only as strong as the ties it forges with its clients. This is especially important if you want to position yourself for success while beginning a service-based firm. Take a look at this in-depth manual on how to launch a service business if you want to make an outstanding entrepreneurial debut. …

Decoding the Force Majeure Clause in a business contract

Due to the uncertainty brought on by the COVID-19 outbreak, businesses in India and throughout the world are unable to fulfil their contracts. Oil refineries and the airports in Delhi and Mumbai in India have cited the “Force Majeure” provision and are asking the Airport Authority of India to waive their payments as a result. …

Contract Administration explained

Contract administrators are often in charge of any task involving contract oversight. This comprises:  Before an agreement is finalised: Requesting, drafting, negotiating, receiving approvals, and signing  Once a contract is executed: tracking of storage, renewal, and expiration What is contract administration? Contract administration is the process of planning, creating, implementing, and ensuring that a contract …

Contract negotiation strategies essential for your business

One of the most important phases in the lifespan of a contract is negotiation. At this point, the parties engage in conversation, negotiate key provisions of the contract, and ultimately come to an agreement that will benefit both parties in their business partnership. The parties also establish their responsibilities and make plans for any risks …